Monday, November 28th, 2011 at 5:43 pm
Colombo Stocks skyrocketed on news that a group of brokers was meeting President Mahinda Rajapaksa to discuss the crisis in the markets. The benchmark All Share Index (ASI) was up by 216.48 points or 3.37 percent to close at 6022.24 while liquid Milanka Index closed at 5233.23, up 180.32 points. Days turnover amounted to 1.23 billion rupees.
Commercial Bank (COMB) was up by 3.70 to close at Rs 101.90 while Aitken Spense Plc closed at Rs 109.40, up 4.50. Bairaha Farms was up by 19.30 to close at Rs 200.30. GREG closed at Rs 44.50, up 7.20. Total of 209 stocks reported gains while only 10 stocks closed lower than previous days closing prices.
Richard Peiris And Company PLC has announced a dividend of 40 cents per share and closed 60 cents higher at Rs 9.10. Expolanka was up by 70 cents to close at Rs 9.70. Royal Ceramic Lanka Plc closed at Rs 140.30, up 7.40.
Foreigners were at selling side with net outflow of Rs 104,037,182.00. Investors are anticipating relaxation of Broker Credit Rules. Retail investors should not chase on speculative stocks blindly as they already burnt their fingers for this reason.
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Friday, November 11th, 2011 at 6:49 pm
Despite positive close Market Turnover level dipped sharply to 393.89 million rupees. ASI was up by 15.60 points to close at 6332.47 while MPI closed at 5651.87, up 17.62 points. There were 82 gainers and 80 losers for the day. Low turnover indicates that investors are loosing interest in the Market.
Colombo stock exchange suspended trading in Hotel Developers (HDEV) and Pelwatte Sugar (SUGA) due to awaiting announcements on how they affect from Revival of Under performing Enterprises and Underutilised Assets Bill .
SUGA has announced that “Consequent to the enactment and passage of the above Act of Parliament, the company is listed under Schedule (ii) of the same. Accordingly, the land alienated hitherto for company shall be vested with the State. ” And they further said at this moment they are unable to comment on the implications on the ruling and awaiting for the instructions by the Secretary to the Treasury.
Ceylon Tobacco Company Plc was up by 27.50 to close at Rs 431.50. Ceylon Tobacco has declared interim dividend of Rs 10.50 per share. Aitken Spence Plc closed at Rs 130.00, up five rupees. LOLC closed 1.10 higher at Rs 88.40. Laugfs voting shares closed 40 cents higher at Rs 39.20.
Investors should focus more on companies with improved results rather than speculating. Foreign investors were net buyers with purchases of Rs 120.88 million and Rs 26.42 million worth of sales.
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